Dixons Carphone : fronts up to investor fury

DIXONS Carphone execs faced investor ire yesterday after overseeing a share price that has more than halved in the last year.

Speaking at his first AGM as chair Ian Livingston said that Dixons had experienced "a tumultuous time".

Despite posting record annual returns in June, Livingston said the stock market "had already decided to de-rate our business" because retailers exposed to fluctuations in the dollar "are not flavour of the month".

He added: "I'm sorry and we know how painful this decline has been for all of us."